Royce & Associates LP Purchases New Position in Blend Labs, Inc. (NYSE:BLND)

Royce & Associates LP acquired a new stake in Blend Labs, Inc. (NYSE:BLND) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 809,000 shares of the company’s stock, valued at approximately $3,406,000. Royce & Associates LP owned about 0.32% of Blend Labs at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. JPL Wealth Management LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at approximately $42,000. Swiss National Bank lifted its stake in shares of Blend Labs by 3.5% in the 4th quarter. Swiss National Bank now owns 392,500 shares of the company’s stock valued at $1,652,000 after purchasing an additional 13,300 shares during the last quarter. PFG Advisors lifted its stake in shares of Blend Labs by 6.3% in the 4th quarter. PFG Advisors now owns 67,762 shares of the company’s stock valued at $285,000 after purchasing an additional 3,986 shares during the last quarter. BBR Partners LLC bought a new stake in shares of Blend Labs in the 4th quarter valued at approximately $60,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Blend Labs in the fourth quarter worth approximately $2,864,000. 52.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brian Kneafsey sold 30,000 shares of Blend Labs stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $3.73, for a total value of $111,900.00. Following the transaction, the insider now directly owns 866,759 shares in the company, valued at approximately $3,233,011.07. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 154,247 shares of company stock worth $580,459 in the last ninety days. 13.21% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLND. Canaccord Genuity Group reduced their price target on Blend Labs from $5.75 to $5.25 and set a “buy” rating on the stock in a report on Friday, February 28th. JMP Securities began coverage on Blend Labs in a report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Wells Fargo & Company increased their price target on Blend Labs from $4.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citizens Jmp upgraded Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, UBS Group reduced their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Blend Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.91.

Blend Labs Stock Up 1.9 %

BLND opened at $3.55 on Thursday. The stock’s fifty day moving average is $3.64 and its two-hundred day moving average is $3.97. The company has a market capitalization of $907.27 million, a P/E ratio of -10.43 and a beta of 1.40. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53.

Blend Labs Profile

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.